Convergence Financial LLC Takes $209,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Convergence Financial LLC purchased a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,388 shares of the software maker’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in shares of Commvault Systems by 3.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after acquiring an additional 66 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Commvault Systems by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC raised its holdings in Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock worth $152,000 after purchasing an additional 121 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Commvault Systems by 1.0% in the 4th quarter. New York State Common Retirement Fund now owns 13,713 shares of the software maker’s stock worth $2,069,000 after purchasing an additional 141 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in Commvault Systems by 7.1% in the 4th quarter. OLD National Bancorp IN now owns 2,187 shares of the software maker’s stock worth $330,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVLT shares. Cantor Fitzgerald increased their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. KeyCorp increased their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $168.63 on Friday. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The business has a fifty day moving average price of $164.30 and a 200-day moving average price of $159.74. The company has a market capitalization of $7.42 billion, a PE ratio of 44.26 and a beta of 0.65.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.